First Horizon Advisors Inc. Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

First Horizon Advisors Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,854 shares of the technology company’s stock after buying an additional 2,891 shares during the quarter. First Horizon Advisors Inc.’s holdings in Arista Networks were worth $426,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Capital City Trust Co. FL lifted its stake in shares of Arista Networks by 288.3% during the 4th quarter. Capital City Trust Co. FL now owns 106,137 shares of the technology company’s stock valued at $11,731,000 after buying an additional 78,803 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Arista Networks by 262.8% during the 4th quarter. Sigma Planning Corp now owns 30,254 shares of the technology company’s stock valued at $3,344,000 after buying an additional 21,916 shares in the last quarter. Kintegral Advisory LLC lifted its stake in shares of Arista Networks by 282.2% during the 4th quarter. Kintegral Advisory LLC now owns 12,459 shares of the technology company’s stock valued at $1,377,000 after buying an additional 9,199 shares in the last quarter. Thompson Davis & CO. Inc. lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Thompson Davis & CO. Inc. now owns 2,600 shares of the technology company’s stock valued at $287,000 after buying an additional 1,950 shares in the last quarter. Finally, Navellier & Associates Inc. lifted its stake in shares of Arista Networks by 315.6% during the 4th quarter. Navellier & Associates Inc. now owns 61,048 shares of the technology company’s stock valued at $6,748,000 after buying an additional 46,359 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ANET shares. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Citigroup increased their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Wells Fargo & Company increased their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Barclays increased their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,056 shares of company stock valued at $30,225,623. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $92.61 on Tuesday. The company’s fifty day moving average price is $113.18 and its 200-day moving average price is $102.07. The firm has a market capitalization of $116.80 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 3.27 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.19 EPS for the current year.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.